About 60 percent of newly-built properties in Central London were sold to Asian buyers from November 2010 to April 2011, according to Knight Frank’s latest study.
This was primarily attributed to the favourable exchange rate and London’s status as the leading destination for international real estate purchases, with robust capital growth potential, as well as stable and long-term investment appeal.
The largest group of Asian buyers came from Hong Kong (24 percent), followed by Singapore (12 percent) and China (10 percent).
According to Knight Frank’s report, £120 million (RM595 million) of its London property was acquired by Asian buyers in the last two months alone, with particular success between the £400,000 and £1,000,000 price bracket.
Recently, the King’s Cross mixed-use development by King’s Cross Central Limited Partnership was launched in Singapore and Hong Kong at the start of April and has since become one of the most successful overseas exhibitions ever.
This was primarily attributed to the favourable exchange rate and London’s status as the leading destination for international real estate purchases, with robust capital growth potential, as well as stable and long-term investment appeal.
The largest group of Asian buyers came from Hong Kong (24 percent), followed by Singapore (12 percent) and China (10 percent).
According to Knight Frank’s report, £120 million (RM595 million) of its London property was acquired by Asian buyers in the last two months alone, with particular success between the £400,000 and £1,000,000 price bracket.
Recently, the King’s Cross mixed-use development by King’s Cross Central Limited Partnership was launched in Singapore and Hong Kong at the start of April and has since become one of the most successful overseas exhibitions ever.
Knight Frank also revealed the reinforcement of its international project marketing division in Southeast Asia, to back up the large growth in demand from the region.
Residential development partner Seb Warner will move to Hong Kong from London to lead the Asian region and will be joined by Mimi Capas, who will supervise a new leasing division to support this expansion.
“Asia is the fastest growing region for cross-border sales of London property. Having established this business with significant success in Hong Kong, Singapore and Malaysia, we are now rapidly expanding into mainland China,” said Neil Batty, Head of Knight Frank international project marketing.
“The decision to strengthen the existing team is a testament to the ongoing importance of the Asia-Pacific markets to Knight Frank and our clients,” noted Nick Thomlinson, Senior Partner at Knight Frank.
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ReplyDeleteDo you Need Refinance finance?
Do you Need Home Improvement finance?
Do you Need Inventor finances?
Do you Need Auto finances?
Do you Need Debt Consolidation?
Do you Need Line of Credit?
Do you Need Second Mortgage?
Do you Need Business finances?
Do you Need Personal finances?
Do you Need International finance?'
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